Complete the following, using ordinary interest. (Use Days in a year table.) (Do
ID: 2824179 • Letter: C
Question
Complete the following, using ordinary interest. (Use Days in a year table.) (Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent.)
Complete the following, using exact interest. (Use Days in a year table.) (Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent.)
Principal Interest rate Date borrowed Date repaid Exact time Interest Maturity value $1,500 6% July 25 Jan.15 $ $Complete the following, using exact interest. (Use Days in a year table.) (Do not round intermediate calculations. Round the "Interest" and "Maturity value" to the nearest cent.)
Principal Interest rate Date borrowed Date repaid Exact time Interest Maturity value $2,900 9% May 21 Aug. 9 $ $Explanation / Answer
Principal Interest rate Date barrowed Date repaid Exact time Interest Maturity value
$1,500 6% july 25 jan 15 173 days $42.66($1500*6%*173/365) $1542.66(1500+42.66)
Principal Interest rate Date barrowed Date repaid Exact time Interest Maturity value
$2,900 9% May 21 Aug 9 79 days $56.49($2900*9%*79/365) $2956.49(2900+56.49)